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The 2022 gift tax return deadline is coming up soon

By |2023-03-22T21:05:27+00:00March 22nd, 2023|Latest News|

Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2022 gift tax return. And in some cases, even if it’s not required to file one, you may want to do so anyway. Filing requirements The annual gift tax

Two important tax deadlines are coming up — and they don’t involve filing your 2022 tax return

By |2023-03-22T21:03:16+00:00March 22nd, 2023|Latest News|

April 18 is the deadline for filing your 2022 tax return. But a couple of other tax deadlines are coming up in April and they’re important for certain taxpayers: Saturday, April 1 is the last day to begin receiving required minimum distributions (RMDs) from IRAs, 401(k)s and similar workplace plans for taxpayers who turned 72

ACA penalties will rise in 2024

By |2023-03-22T21:01:35+00:00March 22nd, 2023|Latest News|

Recently, the IRS announced 2024 indexing adjustments to the applicable dollar amount used to calculate employer shared responsibility penalties under the Affordable Care Act (ACA). Although next year might seem a long way off, it’s best to get an early start on determining whether your business is an applicable large employer (ALE) under the ACA. If

Claiming losses on depreciated or worthless stock

By |2023-03-08T22:39:02+00:00March 8th, 2023|Latest News|

Have you bought stock in a company that later dropped in value? While you may prefer to forget such an ill-fated investment, at least you can claim a capital loss deduction on your tax return. Here are the rules that apply when a stock you own is sold at a loss or becomes completely worthless.

Supreme Court: Overtime rules still apply to highly compensated employees

By |2023-03-08T22:36:11+00:00March 8th, 2023|Latest News|

If you were told someone earns more than $200,000 annually, you might assume the person is a salaried employee who’s ineligible for overtime pay. However, as demonstrated in the recent U.S. Supreme Court case of Helix Energy Solutions Group, Inc. v. Hewitt, this isn’t always a safe assumption. The FLSA rules Under the Fair Labor Standards

How might the Internet of Things affect your business?

By |2023-02-17T13:44:13+00:00February 17th, 2023|Latest News|

Once upon a time, there was the Internet. Relatively speaking, it was easy to understand. The Internet was (and is) a network on which any computer on the planet can communicate with other like-connected computers, enabling users to correspond and share files. But the Internet wasn’t (and isn’t) satisfied with only computers. It wanted to connect

Answers to your questions about 2023 limits on individual taxes

By |2023-02-07T17:02:17+00:00February 7th, 2023|Latest News|

Many people are more concerned about their 2022 tax bills right now than they are about their 2023 tax situations. That’s understandable because your 2022 individual tax return is due to be filed in 10 weeks (unless you file an extension). However, it’s a good time to familiarize yourself with tax amounts that may have

Look to a SWOT analysis to make better HR decisions

By |2023-02-07T17:00:32+00:00February 7th, 2023|Latest News|

Many business owners spend most of their time developing strategic plans, overseeing day-to-day operations and, of course, putting out fires. Yet an underlying source of both opportunity and trouble can be human resources (HR). Think about it: The performance of your HR department determines who works for you, how well employees are supported, and to what

Why you might want to file early and answers to other tax season questions

By |2023-01-27T19:42:37+00:00January 27th, 2023|Latest News|

The IRS announced it opened the 2023 individual income tax return filing season on January 23. That’s when the agency began accepting and processing 2022 tax year returns. Even if you typically don’t file until much closer to the mid-April deadline (or you file for an extension), consider filing earlier this year. The reason is

3 ways your business can uncover cost cuts

By |2023-01-27T19:40:29+00:00January 27th, 2023|Latest News|

Every business wants to find them, but they sure don’t make it easy. We’re talking about cost cuts: clear and substantial ways to lower expenses, thereby strengthening cash flow and giving you a better shot at strong profitability. Obvious places to slash costs — such as wages, benefits and overhead — often aren’t a viable

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